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1)11 



HARDWOOD RECORD 



presented his sixteenth annual report, copy o£ 

 which is given herewith ; 



Do yon linow that of the officers and directors 

 elected at the organization of this company in 

 JSnS five have served continuously to date, 

 namely: Richard Torpin. first vice-president; 

 W Z Sener. director and later second vice- 

 nresirtent : Edwin II. Coane, treasurer ; Harry 

 humphreys, secretary, as well as your president. 

 A continuous, consistent, conservative policy has 

 resulted. ,. , ,, 



During the last year our policy holders were 

 paid a 40 per cent dividend, reducing the net 

 cost of their insurance to GO per cent of their 

 premiums. The continuation of this 40 per cent 

 dividend has been authorized for 1911, and it is 

 our hope and belief that at least this percentage 

 of dividend can be continued indefinitely. 



TliP dividends paid in 1910 amounted to ?112,- 

 r.O") "0 and the losses sustained amounted to 

 $128 G34.15. The vear 1910 was one of severe 

 losses, which consumed 40.3 per cent of the 

 premiums as compared with 30 per cent, the 

 average of all previous years combined. Never- 

 theless, althousch 40 per cent was used for losses, 

 40 per cent for dividends, and 21 per cent tor 

 e-^penses. our interest income and amount re- 

 ceived from brolierage has enabled us to add 

 ilS.G'G-'.il to surplus, which now amounts to 

 the sum of $304, .564.69, 



Gentlemen, your company continues to do well 

 and vou should be pleased. 



I attach a statement of the conditions of the 

 company as of December 31. 1910. for your 

 perusal, which I am sure you will find of inter- 

 est. 



Statement, J.^xdary 1, 1911. 



Cash Assets — 

 Approved stocks and bonds (mar- 

 ket value) $ 404.000.00 



First mortgage loan on real estate 3,500.00 



Cash in office 200.00 



Cash in banks on interest §1,8.50.09 



Premiums due -J'isi-Jc 



Interest due and accrued S.sbS.ib 



.. , Total cash assets $ 466.569.23 



Laabilitics — 

 Losses in process of 



ad,1ustment .$ 1.628.97 



Taxes and other bills 



due or accrued.... 2.021.35 

 Inspection charges due 



on premiums in 



course of collection 1,826.53 

 Unearned premiums 



on policies in force 156,527.69 



Total liabilities. .$162,004.54 



Net cash surplus 304,564.69 $ 466,569.2:; 



Contingent assets 939,166.11 



Total assets $1,405,735.34 



Insurance in force $14,072,51.5.09 



Premiums in force 313.0i)5.37 



Lumbermen's Underwriting Alliance 



There is no gainsaying the fact that the Lum- 

 bermen's Underwriting Alliance of Kansas City. 

 Mo., under the management of U, S. Epperson 

 & Co., has attained magnificent success in lum- 

 ber insurance affairs. The alliance has been in 

 the field six years and has now more than $20.- 

 000,000 of insurance in force, being $1,000,000 

 more than double the amount carried by it three 

 years ago. This record is unprecedented. Within 

 the past twelve months fifty-one new subscribers 

 have been added, and the insurance in force has 

 been increased twenty-five per cent. 



Notwithstanding the untoward conditions pre- 

 vailing during 1910, which was notable for ex- 

 cessive and long continued droughts in large 

 areas where timber operations are carried on, 

 and also for disastrous forest fires, and that the 

 alliance within the year increased the amount 

 of its risks over twenty-five per cent. Its fire 

 losses were $25,000 less than the preceding year, 

 and although a reduction in rates was made in 

 the beginning of the year, which resulted in a 

 decrease in the premium income of $30,000, its 

 surplus and reinsurance reserve has increased 

 S123,5.'!3.41 since .Tanuary 9, 1910, there now 

 being to the credit of subscribers $578,771.24. 



The subscribers to the Lumbermen's Under- 

 writing Alliance have no little cause for con- 

 gratulations upon such a substantial showing as 

 this. 



The partners and managers of the Lumber- 

 men's Underwriting Alliance feel that as the 

 entire operating cost is but 20 per cent, it 

 is .lustified In the belief that its policy holders 

 will feel that alliance Insurance will continue 



to afford the most economical and soundest pro- 

 tection available to manufacturing lumbermen. 



Change in Company's Name 

 Announcement has recently been made in the 

 change of the corporated name of the Van 

 Keulen & Wilkinson Lumber Company of Grand 

 Rapids, Mich., for many years one of the leading 

 organizations in the Wolverine state. The com- 

 pany is now known as the Van Keulen & Win- 

 chester Lumber Company. The officers of the 

 company are W. C. Winchester, president ; J. C. 

 Van Keulen, vice-president, and N. J. G. Van 

 ICeulen, secretary. The business of the com- 

 pany will continue as heretofore. It consists 

 of the manufacture and wholesaling of hardwood 

 lumber and crating material. 



Enters Wholesale Hardwood Lumber 

 Business 



Sam E. Barr, well known in the New York 

 hardwood trade with headquarters at 1 Madison 

 avenue, announces that he has taken over the 

 New York oflice of the Lilly Lumber Company 

 at that location to conduct a general wholesale 

 liardwood lumber business on his own account. 

 In this connection he will continue to handle 

 the Lilly Lumber Company's stock in the East, 



SAM E. BAKU. NEW YOKlv, N. Y. 



in addition to other well established sources of 

 supply, which will give him an excellent line of 

 hardwood lumber for 1911. 



Mr. Barr has a good list of choice hardwoods, 

 mostl.v band sawn stock, which he has on hand 

 at mill points, and on which he will name low 

 prices. 



The Recobd unites with Mr. Barr's many 

 friends in the local trade in wishing him every 

 success in his new undertaking. 



Fire at Plant of Vestal Lumber & Manu- 

 facturing Company 



The entire planing mill, dry-kilns and sheds 

 of the Vestal Lumber & Manufacturing Com- 

 pany of Knoxville, Tcnn., were entirely destroyed 

 by fire on January 22. By hard fighting the 

 sawmill and lumber yard proper were saved. 

 The loss is only partially covered by insurance. 

 The planing mill was a three-story structure and 

 the sheds were two stories high. The origin of 

 the fire is unknown, but was discovered in the 

 shed next to the Louisville & Nashville Railroad. 

 The dry-kilns were full and the planing mill 

 had much rough and worked material in it. 

 The Vestal Lumber & Manufacturing Company 



is one of Tennessee's most progressive hardwood 

 firms, and it is very likely that the burned 

 structure will be rebuilt. 



Further Acknowledgements 



The Nichols & Cox Lumber Company of Grand 

 Rapids, Mich., manufacturer of American hard- 

 woods and Nichols' "Everlasting" maple flooring, 

 sent an artistic wall hanging, a reproduction of 

 a painting by M. Galileo Galli, entitled "Emma." 



From Sanford & Treadway, New Haven, Conn., 

 manufacturers and wholesalers of hardwood lum- 

 ber, come greetings in the form of a handsome 

 calendar bearing a reproduction of the painting 

 of Thomas Moran's "Mid-Summer Day, Long 

 Island." This company has mills and yards at 

 Menominee, Mich. ; Elizabethton and Mountain 

 City, Tenn., and Rugby, Va. 



Compliments of the Three States Lumber 

 Company, a big manufacturer of hardwood lum- 

 lier with general offices at Memphis, Tenn., dis- 

 tributing yards at Cairo and .Toppa, III., and 

 mills in Missouri. Arkansas. Tennessee, Missis- 

 sippi and Louisiana, came with its usual leather- 

 bound memorandum book. The company has 

 made it of especial value to the trade by insert- 

 ing much valuable information, including the 

 Hardwood Manufacturers' Association's grading 

 rules for hardwood lumber. 



From the Anderson-Tully Company, manufac- 

 turer of hardwood lumber, packing boxes, egg 

 cases and veneers at Memphis, Tenn., came a 

 beautiful calendar showing a reproduction of 

 the painting by Thomas Moran, entitled "Mid- 

 Summer Day, Long Island." It is well printed 

 in soft, hazy colors and mounted on a stiff cream 

 board making a most artistic hanging. 



A Sad Death 



While mentally deranged on January 21. Har- 

 rison P. Grover of the Dregge-Grover Lumber 

 I'ompany of Grand Rapids, Mich., went into the 

 liasement of his home and cut his throat with a 

 razor, which resulted in death two hours later. 



Mr. Grover was a highly respected citizen, 

 having been a resident of the city for eighteen 

 years. He leaves a wife and two daughters. He 

 suffered from nervous collapse six weeks ago 

 and since that time had been under the care of 

 a physician. The funeral services were attended 

 by members of the Grand Rapids Lumbermen's 

 .-Association, of which organization Mr. Grover 

 was vice-president. 



Has Been Awarded Medal 



The 11. B. Smith Machine Company of Smith- 

 ville, N. J., received first prize — a gold medal — 

 which was the highest award given in any sec- 

 tion for woodworking machinery at the late 

 Centenary Exposition, Buenos Aires, Argentine 

 Republic, S. A. As was noted in the last issue 

 of the Record, this exposition celebrated the 

 one hundredth anniversary of the Republic and 

 was largely attended by persons from all over 

 the world. The competition on woodworking 

 machinery was with French. Swedish and Eng- 

 lish manufacturers, some of whom made large 

 exhibits, but the Smith machines won on quality. 



Smoker of New York Lumbermen's Club 



The complimentary smoker and vaudeville 

 entertainment tendered by the Lumbermen's 

 Club of New Y'ork City at the Hoffman House 

 on January 24 to members and invited guests, 

 was most successful. The affair was largely 

 attended, there being about 150 present. 



Preceding the entertainment proper, the mem- 

 bers and guests enjoyed a specially prepared 

 t.iblo de bote dinner in the dining room of the 

 club, after which they gathered in the assembly 

 room for the entertainment of the evening. Spe- 

 cial music preceded and interspersed the various 

 acts, and light refreshments and cigars were 

 served during the evening. 



